2636                                 LAWS OF MARYLAND                               Ch. 766

(2)   The bonds issued to evidence this loan or
installments thereof may be sold as a single issue, or may
be consolidated and sold as part of a single issue of bonds
under § 2B of Article 31 of the Code.

(3)   The actual cash proceeds' of the sale of the bonds
shall be paid to the Treasurer and shall be first applied to
the payment of the expenses of issuing and delivering the
bonds unless funds for this purpose are otherwise provided
and thereafter shall be credited on the books of the State
Comptroller and expended, upon approval by the Board of
Public Works, for the following public purposes, including
any applicable architects' and engineers' fees: for the as a
grant to Prince George's Heritage Inc. to assist Prince
George's Heritage Inc., under the direction of the Maryland
Historical Trust, in the preservation, renovation and
restoration of a property, listed in the National Register
of Historic Places, known as McGruder Magruder House.

(4)   There is hereby levied and imposed an annual
State tax on all assessable property in the State in rate
and amount sufficient to pay the principal of and interest
on the bonds as and when due and until paid in full, such
principal to be discharged within fifteen years of the date
of issue of the bonds.

(5)  The payment of any funds under the provisions of
this Act for the purpose set forth in Section 1(3), above.
shall be contingent upon the provision by the Prince
George's Heritage Inc. of a sum up to 3150,000 as a matching
fund for this project from private and other public sources.
Prince George's Heritage Inc. shall have until June 1, 1982
to present evidence satisfactory to the Board of Public
Works of the sum that it has raised as a matching fund for
this purpose. Upon a certification of suitable evidence
from the Board of Public Works on or before June 1, 1982,
the proceeds of the loan shall be expended in accordance
with the provisions of this Act. To the extent that
satisfactory evidence of the raising of a sum up to $150,000
as a matching fund of this project is not presented to the
Board of Public Works on or before June 1, 1982, no funds
under the provisions of this Act shall thereafter be paid
over to or expended for the purposes set forth in Section
1(3), above, and the remaining proceeds of the loan shall be
transferred to the Annuity Bond Fund and applied to the debt
service requirements of the State.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1980.

Approved May 27, 1980.

CHAPTER 767